Mar 31, 2015
1. As per AS-15 on Employee Benefits, the short term employee benefits
have been accounted on undiscounted basis.
2. In compliance of Accounting standard 18 on "Related party
Disclosures" issued by the ICAI, details pertaining to related party
transactions .
A. (i) Name of the related Parties
i Key management Personnel
1. MANMINDER SINGH NARANG (Director)
2. ANCHAL NARANG (Managing Director)
ii. Associate concerns
1.SHIVAM COOL DRINKS PVT. LTD.
2.THREE-N-PRODUCTSPVT.LTD.
3. R.D.M. CARE INDIA PVT. LTD.
4. AYUR INTERNATIONAL
5. THREE-N-CONSTRUCTION PVT. LTD.
6. NARANG BROS. (FIRM)
3. Primary Segment: The company is primarily engaged in the business
of Liquor etc. Therefore as per Accounting Standard -17 "Segment
Reporting" reportable segment is liquor segment only. Hence the company
has not given segment reporting.
Secondary Segment: Geographical segment has not been given as the
company is not working in a separate economic environment which has
effect on risk and return, which are different from the one in which
the company is presently working.
4. In the opinion of the management of the Current Assets Loan and
advance is realisable value which is at least equal to the amount at
which they are stated. Letters of confirmation of balance are awaited
in most of the cases.
5. The company has not received any information from suppliers
regarding their status under Micro, Small Scale and medium Enterprises
Development Act, 2008 and hence, disclosure, if any, relating to
amounts unpaid at the year end together with any interest payable as
required. The said Act have not been given.
6. During the year the loans from Oriental Bank of Commerce were
restructured/rescheduled and part of loans were converted into working
capital term loan and funded interest Term loan.
7. Previous year's figures have been rearranged/regrouped wherever
necessary to make them comparable with current figures
Mar 31, 2014
1. Corporate Information
NUWAY ORGANIC NATURALS INDIA LTD. (the Company) is a public limited
company domiciled in India and incorporated on July 10, 1995 under the
provisions of Indian Companies Act, 1956. The Company is in the
business of the manufacturing beer, wine, whisky, rum, gin, vodka and
other alcoholic / non alcoholic drinks. The company is having
manufacturing plant for alcoholic drinks at Rajpura in Punjab. The
company also deals in cosmetics items.
2. Basic of Preparation
The financial statements are prepared on accrual basis under the
historical cost convention in accordance with the generally accepted
accounting principles in India and to comply with the Accounting
Standards referred to in sub section (3C) of section 211 of the
Companies Act, 1956 including the Rules framed there under.
3. Use of estimates
The preparation of financial statement in conformity with the generally
accepted accounting principles requires estimates and assumptions to be
made that affect the reported amounts of the assets and liabilities on
the date of the date of financial statement and reported amount of
Revenue and Expenses during the reporting period. Differences between
Actual and estimates are recongnised in the period in which result get
materialized.
4. Deferred Tax Liabilities (Net)
Due to future uncertainty of Future taxable profit, the company has not
created any Deffered tox Assets/Liabilities during the year.
5. Contingent Liabilities not provided for in respect of
1.
Outstanding Bank Guarantees (in Lacs) 23.69 63.75
6. Commitments
Estimated amount of contracts remaining to
be executed on capital account - -
Estimated amount of contracts remaining to
be executed on revenue account and not - 7.22
provided of (in Lacs)
7. As per AS-15 on Employee Benefits, the short term employee benefits
have been accounted on undiscounted basis.
8. In compliance of Accounting standard 18 on "Related party
Disclosures" issued by the ICAI, details pertaining to related party
transactions .
A. (i) Name of the related Parties
i Key management Pesonnel
1. MANMINDER SINGH NARANG (Managing Director)
2. ANCHAL NARANG (Whole Time Director)
ii. Associate concerns
1. SHIVAM COOL DRINKS PVT. LTD.
2. THREE-N-PRODUCTS PVT. LTD.
3. R.D.M. CARE INDIA PVT. LTD.
4. AYUR INTERNATIONAL
5. THREE-N-CONSTRUCTION PVT. LTD.
6. NARANG BROS. (FIRM)
9. Primary Segment : The company is primarily engaged in the business
of Liquor etc. Therefore as per Accounting Standard -17 "Segment
Reporting" reportable segment is liquor segment only. Hence the company
has not given segment reporting.
Secondary Segment : Geographical segment has not been given as the
company is not working in a separate economic environment which has
effect on risk and return, which are different from the one in which
the company is presently working.
10. In the opinion of the management of the Current Assets Loan and
advance have realisable value which is at least equal to the amount at
which they are stated. Letters of confirmation of balance are awaited
in most of the cases.
11. The company has not received any information from suppliers
regarding their status under Micro, Small Scale and medium Enterprises
Development Act, 2008 and hence, disclosure, if any, relating to
amounts unpaid at the year end together with any interest payable as
required, the said Act have not been given.
12. Previous year''s figures have been rearranged/regrouped wherever
necessary to make them comparable with current figures.
Mar 31, 2013
1. Corporate information
Nuway Organics Natural India Limited(the Company) is a public limited
company domiciled in India and incorporated on July 10, 1995 under the
provisions of Indian Companies Act, 1956. The Company is in the
business of the manufacturing beer, wine, whisky, rum, gin, vodka and
other alchoholic/non alchoholic drinks. The company is having
manufacturing plant for alchoholic drinks at Rajpura in Punjab. The
company also deals in cosmetics items.
2. Basis of preparation
The financial statements are prepared on accrual basis under the
historical cost convention in accordance with the generally accepted
accounting principles in India and to comply with the Accounting
Standards referred to in sub section (3C) of section 211 of the
Companies Act,1956 including the Rules framed there under.
3. Use of estimates
The preparation of financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that affect the reported amounts of the assets
and liabilities on the date of financial statements and the reported
amounts of revenue and expenses during the reporting period.
Differences between actual and estimates are recognized in the period
in which results get materialized.
4. Contingent liabilities not provided for in respect of:
i. Outstanding Bank Gaurantees (in lacs) 63.75 3.00
5. Commitments
Estimated amount of contracts remaining to be
executed on capital account and not - 30.00
provided for (in lacs)
Estimated amount of contracts remaining to be
executed on revenue account and not 7.22 280.00
provided for (in lacs)
6. As per AS-15 on Employee Benefits, the short term employee
benefits have been accounted on undiscounted basis.
7. In compliance of Accounting Standard 18 on "Related Party
Disclosures" issued by the ICAI, details pertaining to related party
transactions are as follows:
A. I. Names of related Parties
i.. Key Management Personnel
1. MANMINDER SINGH NARANG (Managing Director)
2. ANCHAL NARANG(Whole Time Director)
iii. Associate Concerns
1. SHIVAM COOL DRINKS PVT. LTD.
2. THREE-N-PRODUCTS PVT LTD
3. R.D.M. CARE INDIA PVT. LTD.
4. AYUR INTERNATIONAL
5. THREE-N-CONSTRUCTION PVT. LTD.
6. PEARLS OF BEAUTY (FIRM)
7. NARANG BROS. (FIRM)
8. The company has various cancelable operating leases for offices,
Plant & Machineries that are renewable on annual basis and cancelable
at the mutual consent of the lessee and lessor. Rental expenses for
such operating lease recognized in Statement of profit & loss with the
purview of AS-19 on cancelable operating leases above is Rs
40,76,360/-.
9. Primary Segment: The Company is primarily engaged in the business
of Liquor etc. Therefore as per Accounting Standard-17 "Segemnt
Reporting" reportable segment is liquor segment only. Hence, the
company has not given segment reporting.
Secondary Segment: Geographical segment has not been given as the
company is not working in a separate economic environment which has
effect on risk and return, which are different from the one in which
the company is presently working.
10. In the opinion of the Management, the Current Assets, Loans and
Advances have realizable value, which is at least equal to the amount
at which they are stated. Letters of confirmation of balances are
awaited in most of the cases.
11. The company has not received any information from suppliers
regarding their status under Micro, Small Scale and Medium Enterprises
Development Act, 2006 and hence, disclosure , if any, relating to
amounts unpaid at the year end together with any interest payable as
required the said Act have not been given.
Mar 31, 2011
A. Assets & Liabilities relating to Income Tax have not been included
in above figures
B. While preparing segment report as above only income, expenditure,
assests and liabilities pertaining to concerned segments have been
taken into consideration.
C. Geographical segment has not been given as the company is not
working in a separate economic environment which has effect on risk and
return, which are different from the one in which the company is
presently working.
a. Since no managerial remuneration has been paid u/s 198 of Companies
Act, 1956. So statement of computation of Net profit u/s 198 is not
applicable on the Company.
b. INTEREST ON UNSECURED LOAN FROM DIRECTORS AND THEIR RELATED
CONCERNS
The company received the Interest waiver confirmation from the
directors and other related concerns for nonpayment of Interest.
1. In the absence of information regarding sundry creditors with
regard to their status as Small Scale Industrial Undertakings, it is
not possible to determine the amount, if any, payable to sundry
creditors falling within the meaning of Small Scale Industrial
Undertaking.
2. Previous years figures have been regrouped / re-arranged wherever
necessary.
3. In the opinion of the management, the current assets, Loans &
Advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated.
4. Abstract as per Part IV of Schedule VI is separately enclosed.
(As per Annexure-II)
Mar 31, 2010
Particulars Amount in Rs.
Deferred Tax Liability
As on 31 -03-2009 5,86,537/-
Provision for Deferred
Tax made during the year 5,31,333/-
Deferred Tax Liability as
On 31-03-2010 11,17,870/-
B. Sales Revenue, Expenses, Assets & Liabilities of Ludhiana Unit were
accordingly shared between cosmetic products & mineral water in the
ratios of their sales at ludhiana unit
C. Assets & Liabilities relating to Income Tax have not been included
in above figures
D. While preparing segment report as above only income, expenditure,
assests and liabilities pertaining to concerned segments have been
taken into consideration.
E. Geographical segment has not been given as the company is not
working in a separate economic environment which has effect on risk and
return, which are different from the one in which the company is
presently working.
13. Information pursuant to Part II of Schedule VI of the Companies
Act, 1956 have been given below to extent the same are applicable to
the Company)
b. VALUE OF IMPORT CALCULATED ON CIF BASIS:- NIL
c. EXPENDITURE AND EARNING IN FOREIGN CURRENCY:-
i) EXPENDITURE NIL
li) EARNING NIL
e. INTEREST ON LOAN FROM DIRECTORS
There was no arrangement or contract to pay interest on loan to the
directors.
2. In the absence of information regarding sundry creditors with
regard to their status as Small Scale Industrial Undertakings, it is
not passible to determine the amount, if any, payable to sundry
creditors failing within the meaning of Small Scale Industrial
Undertaking.
3. Previous years figures have been regrouped / re-arranged wherever
necessary.
4. In the opinion of the management, the current assets, Loans &
Advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated.
5. Abstract as per Part IV of Schedule VI is separately enclosed.
(As per Annexure-II)
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